Monday, 22 May 2017

Sensex, Nifty remain rangebound after gap up opening; SBI down 3%

Free Stock Tips|Indian Stock Market
Shares of Elecon Engineering Company rose more than 7 percent intraday Monday on the back of robust fourth quarter numbers. The company's Q4FY17 net profit jumped 29.1 percent at Rs 29.7 crore against net profit of Rs 23 crore, in the same quarter last fiscal. Total income of the company fell 1.5 percent at Rs 446.6 crore versus Rs 453.3 crore.

Benchmark indices continued to trade in a range after seeing a gap up opening, with the Nifty above 9450 mark.

The Sensex was up 136.76 points at 30601.68, while the Nifty was up 28.25 points at 9456.15. The market breadth was negative as just 1,098 shares advanced against a decline of 1,322 shares, while 171 shares were unchanged.

ITC, Adani Ports and Bharti Infratel were the top gainers on both indices, while Lupin and SBI lost the most.

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